Promoters of gasification and pyrolysis schemes, sometimes collectively called "Advanced Thermal Treatment" schemes, regularly make bold claims about the technological, environmental and financial performance of their proposed facilities with a mixed waste feedstock. In reality, where such configurations have been attempted they have either failed to live up to these claims or operators remain suspiciously quiet about reporting actual performance.
Because companies do not like to talk about their failures it is often hard to find out what went wrong. For example, Air Products remain tight-lipped about the serious high-profile problems they encountered at Tees Valley.
Gasification and pyrolysis constitute some of the riskiest technologies in the waste industry and are synonymous with bankruptcies, failures and broken promises. This perception is well deserved, with the lack of examples of success starkly contrasting with a litany of failures.
PHE's technology still hasn't been demonstrated and yet we know that it failed as pyromex, it failed in Munch, it couldn't be sold in Thailand and it couldn't be sold in Australia.
It is absurd that anyone would consider investing in a company with:
* A track record of repeated and regular failure,
* A weak balance sheet with material outstanding debt and insufficient capital to implement its business plan,
* A history of regular and repeated share issuances, and
* An obvious need to raise more capital
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